Best Buy
Q4 2023 Earnings Call
Mar 02, 2023, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello and welcome to the Q4 full-year '23 earnings call. My name is Francois, and I will be your coordinator for today's event. Please note, this conference is being recorded. [Operator instructions] I will now hand you over to your host, Mollie O'Brien, to begin today's conference.
Thank you.
Mollie O'Brien -- Vice President, Investor Relations
Thank you. And good morning, everyone. Joining me on the call today are Corie Barry, our CEO, and Matt Bilunas, our CFO. During the call today, we will be discussing both GAAP and non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, and an explanation of why these non-GAAP financial measures are useful, can be found in this morning's earnings release, which is available on our website, investors.bestbuy.com.
Some of the statements we will make today are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may address the financial condition, business initiatives, growth plans, investments, and expected performance of the company and are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Please refer to the company's current earnings release and our most recent 10-K and subsequent 10-Qs for more information on these risks and uncertainties. The company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call.
Later today, we will post a third-party transcript of this call to our investor relations website, as well as a financial recap slide presentation. I will now turn the call over to Corie.
Corie Barry -- Chief Executive Officer
Good morning, everyone, and thank you for joining us. Today, we are reporting Q4 sales results in line with our expectations and better-than-expected profitability. We knew customers would be looking for joy during the holiday but would also be seeking great value given the pressures of inflation. Consumers responded to our compelling deals, and as we predicted, their shopping patterns were more similar to historical holiday periods than what we saw the last two years.
Specifically, customer shopping activity was more concentrated on Black Friday week, Cyber Monday, and the last two weeks of December than last year. Customers continued to choose us for the expertise, service, and overall value we provide across all channels. Our customer satisfaction scores indicate that our talented teams and omnichannel capabilities delivered better experiences during the critical holiday period this year compared to both last year and the pre-pandemic fourth quarter of fiscal '20, especially within our services and delivery experiences. Throughout the quarter, we were committed to balancing our near-term response to current conditions and managing well what is in our control while also advancing our strategic initiatives and investing in areas important for our long-term performance.